Hot Business Opportunities In Nigeria
Nigeria is no doubt the biggest economy in Africa. This record is not just because Nigeria is amongst the top 10 oil-producing countries of the world, but for the fact that Nigeria is a nation with diverse culture and population unlike most other black nations. Population is one of the biggest factors that influence a country's economy, so Nigeria as a country with over 140 million population, with a rapidly increasing middle class population, is a sure business destination for any ambitious entrepreneur who wants to make quick returns on his or her investment capital.
One unique thing about Nigeria when it comes to business and investment opportunities is that fact that virtually everything is sellable in Nigeria, so long as you understand the marketing strategies. Now, one of the biggest factors you must put into consideration when planning to do business in Nigeria is price. Nigerians value price more than quality, so if you can capitalize on this fact, believe me, you will hardly get loss. This is one single reason why you see Chinese products selling like world wide web in Nigeria- simply because Nigerians are more concerned with cheap products more than quality ones.
One thing that discourages so many investors from investing in Nigeria is electricity, and I have also heard foreigners complain about corruption, but that's when you are viewing Nigeria from afar, and when you do not have a genuine mission, and when you try to follow a short-cut. Most foreigners listen to international news feeds telling them how horrible the Nigerian power sector is, and how corrupt all Nigerians are, but believe me, thousands if not millions of foreign companies are thriving here in Nigeria; making big profit even more than they are making in their home countries and in so many other countries where it is believed that everything is perfect, so what does that tells you as an entrepreneur? This testimony should tell you that Nigeria is a very fertile land for ambitious entrepreneurs desiring to make huge profit in lesser time-frame.
If you look at the global trend today, Nigeria is gradually taking over the global entertainment industry- such that when you talk of the most popular musical songs and movies, you must come across a Nigerian. And even the American artistes have recognized this fact, reason you see virtually all of them featuring Nigerian artistes and stars in their latest albums- Jay Z vs Timaya, Rick Ross vs PSQUARE, Wyclef vs ODB, Kanye West vs DBanj, Akon vs PSQUARE, Snoop Dog vs DBanj, Akon vs Davido, etc.
It is only a blind person that's not seeing the great business opportunities in Nigeria. Now, enough said, what are the hot business opportunities in Nigeria?
1. Car importation: Nigerians love cars, so irrespective of the fact that there are a lot of car importers currently in existence in Nigeria now, this still remains a hot business in Nigeria if you know how to go about it.
2. Importation of electronic gadgets: be it mobile handsets, home appliances or electronic games, it is a hot business in Nigeria if you have a solid business plan.
3. Wears: with Nigeria's ever increasing population, you don't need a talisman to tell you that clothing business is a hot business opportunity in Nigeria.
4. Entertainment: this is one of the hottest business opportunities in Nigeria presently. Nigerians naturally love fun and entertainment even before the arrival of the colonial masters, reason you hear things like- folktales at moonlight, community wrestling, village drama, cultural dance groups, etc…these are local forms of what we see as hip-hop, high-life, afro-juju, NOLLYWOOD movies, etc today. S o if you can be able to setup an entertainment business here in Nigeria (especially in any of these Nigerian cities- Lagos, Abuja, Port Harcourt, Enugu, Asaba, and Ibadan), believe me, you are on your way to making the next forbes’ list of successful entrepreneurs.
You may be wondering the kind of entertainment business I am talking about, now let me break it down for you: Nightclub, music production (capitalize on discovering new Nigerian talents, you can launch a mini music talent hunt show to publicize your company and to create fast awareness), any informative reality TV show (gaming, music, modeling, pageant, literature) will sell fast in Nigeria.
5. Catering/Hospitality business: Nigeria's middle class population is fast growing, so they need catering, and they also need hospitality. In order words, hotel and fast food restaurant businesses are amongst the hottest business opportunities to look out for in Nigeria come 2013.
6. Automobile repair business: more and more Nigerians are buying new cars, and you may be surprised to know that thousands of Nigerians own over ten private cars running on the road on daily basis, so those cars need maintenance. Now, here is the secret: there are lots of local automobile mechanic shops with few advanced automobile repair centers already existing, so if you can distinguish yours by making it look modern, believe me, you will run from patronage. If you need more tip on this, kindly get back to me.
7. HAVC (Heating, Air-conditioning, Ventilation & Cooling): presently, we do not have reliable companies that are into this business in Nigeria. All we have presently are artisans and local technicians, and this is a high-demand service in present Nigeria. Remember, Nigeria is located in the Western region of Africa close to Sahara desert which makes it a high temperature region, so there is a dire need for ventilation and air-conditioning in Nigeria. Companies need HAVC services, individual homes needs it too, so explore the opportunity. Another tip off: if you can establish a well organized training school or academy to train people on HAVC, believe me, you are made. I speak from personal experience, and do have in mind that any business opportunity I am recommending here had been thoroughly researched by me, so feel free to explore and to contact me for further guidance.
8. Transportation business: Nigerians love traveling around the country, either for business or for pleasure. For instance, as we are approaching the Christmas season, virtually every Nigerian must travel to another state, and 80 to 90% of these travelers will go by road. This statistics should give you a clue on how profitable transport business is in Nigeria. For instance, on a daily average, transporters that make use of the long couch vehicles to move passengers within Lagos state alone, turnover $200 to $300 on daily basis, with less than $100 logistics expenditure. Believe me, with proper management, you will make lots of money in the Nigerian transportation business. And may I use this opportunity to inform you that transportation business is one of the fastest ways to becoming financially wealthy in Nigeria if you are able to manage the drivers. Note: drivers are the major challenge in this business, so good driver management is the secret to making it in this business as far as Nigeria is concerned. Once you are able to manage the drivers successfully, you are a success.
9. Education business: with Nigeria's ever increasing population, no number of nurseries, secondary or tertiary institutions can serve the population satisfactorily. Nigeria needs more standard private secondary schools and universities.
Now, you may be wondering; why haven't people ventured into these businesses? Remember, Nigeria is still a developing country, though it is fast developing, and remember, it is not so easy to raise capital to startup a business, and this has been the greatest challenge most aspiring entrepreneurs in Nigeria face today, so if you have the capital, and you have the entrepreneurial spirit, then look no further than Nigeria because it is amongst the hottest business destinations of 2013. If you need further assistance or guidance, feel free to contact me any time, any day, I will be glad to guide you, and to possibly work with you to success. Wishing you all a happy Christmas celebrations and a prosperous new year ahead!
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